Futures up a bit this morning.

Yesterday…more of the same…very strong growth/tech/internet/nasdaq/ndx while other areas get no bid.

Suspect any day they pull some of this in but leave no doubt, this is buy the pullback time in these areas. A bit frothy from past few days but froth can last a good while.

Big FINANCIALS still act like crap but what is working does not care. We continue with stance that energy names have seen their highs, at least in the short term.

Weak emerging markets look also to hit a low…for now…but continue to under-perform.